More construction & prefab hubs in the pipeline

The authorities plan to build more construction and prefabrication hubs to upgrade construction technology and reduce reliance on labour.

A new construction and prefabrication hub will be ready by the end of next year to cater to demand for precast production in Singapore.

The project, to be developed by construction company SEF Group, is the first to be awarded under a public tender by the Building and Construction Authority.

It is part of the government’s initiatives to upgrade construction technology and reduce reliance on labour.

The new five-storey complex will have an annual production capacity of more than 100,000 cubic metres of precast components – three times more than a conventional open precast yard.

Up to 25 per cent of private residential developments in Singapore utilise precast technology. That number is as high as 70 percent for HDB projects.

The authorities plan to raise these figures further with about a dozen of prefabrication hubs to be built and rolled out over the next few years.

Senior Minister of State for National Development, Lee Yi Shyan, said: “It will supply a lot more prefab components to construction industries, reduce the need for offsite work, raise the productivity and reduce reliance on foreign workers.

“Secondly, this production will also produce high-quality components because it is in a factory-made environment. If you put the two together, this is the way to go for our industry going forward.”

Mr Lee added: “For this kind of construction method, they call it the integrated hub method, we are going to roll out more and more. This is one of the dozen that are going to be rolled out and then going to be built over the next few years.

“The outstanding feature of this project is that it brings together all existing technologies into one building such that the end result is a major capability upgrade for our construction industry.”

Source – CNA – 29 Jul 2013

Private home resale prices down for second straight month

Resale prices of private homes slipped 0.4 per cent in June from May, the second straight month of declines.

In May, resale home prices edged 0.2 per cent lower from a month earlier.

The price dip in June was largely due to price falls in the central region and small units, according to the latest Singapore Residential Price Index (SRPI) flash estimates published by the National University of Singapore’s Institute of Real Estate Studies on Monday.

Prices of private homes within the central region fell by 1.5 per cent in June, reversing the gains it recorded in May.

Meanwhile the price of small units, defined as 506 square feet or less, continued their month-on-month decline, falling 1 per cent in June, after May’s 1.3 per cent decline.

In contrast, prices of resale homes in the non-central region rose 0.5 per cent, up from May’s 1.5 per cent drop.

Nicholas Mak, the executive director for research and consultancy at SLP International Property Consultants, noted that the price index for shoebox apartments peaked in April and was slowly retreating as investors grew more cautious about investment potential.

He also added that in the first half of 2013, the SRPI varied between a narrow range of 158.2 and 163.0, which suggested that private resale prices may be hitting a plateau.

Recent quarterly figures from the Urban Redevelopment Authority (URA) showed a slight increase in prices for private homes.

According to the URA, prices for private residential properties rose 1 per cent in the second quarter of 2013, higher than the previous quarter’s 0.6 per cent growth.

Source CNA – 29 Jul 2013